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Outlook for UK property market in next 12 months is more upbeat

property marketThe 12 month outlook for UK residential property prices and sales is more upbeat with Scotland, the North East of England and Northern Ireland seeing stronger activity, according to the latest industry survey.

While agreed transactions fell at a national level in December with sales flat or negative across the rest of the year, surveyors are more optimistic, the survey from the Royal Institution of Chartered Surveyors (RICS).

But there is unlikely to be a sudden improvement with sales expectations nationally remaining flat over the coming three months. However, signs of movement are there for a pick up during the year across all regions with London recording its first positive reading since last June.

Overall buyer interest edged lower in December with sales and new instructions falling. After new buyer enquiries came close to stabilising in November, 15% more respondents noted a decline in demand as opposed to an increase in the month of December.

Read full story @propertywire here 

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